The Meaning of Procurement

It is of primal human nature to barter, trade, and by most means necessary to obtain something that we humans need or want. However, leaving the caveman days behind, in the present world, the act of trading goods and services is best known in the business world as procurement. Procurement, often defined as the act individuals collaborating and discussing the concept of selling or trading a good or service and in return expecting the best good or service of equivalent value. Although there is generally a very subliminal underlying fixture of business within the definition, the act of procurement is present in everyday life business-related or not. As people exchange emotions, feelings, or even words, in return they expect equivalent words, emotions, and feelings to be given back as a sign of understanding.

Procurement is quite a complex concept, even though most of us do it without even having to think twice, the act involves anywhere between 7 to 8 steps depending on how the act plays out. The steps in order are: information gathering, contacting the supplier, background review, negotiation, fulfillment, consumption, renewal, and sometimes notification. As these are the various steps of procurement, they are both part of emotional and business procurement. Although procurement generally is an act of trusting another individual to correspond in the same manner, unfortunately sometimes that is not the case. As individuals sometimes go outside of the norms of both business and interpersonal communication, and do not follow the guidelines or attempt to manipulate them in a certain way to best fit the act of procurement for themselves.